2275 SW 15th St · Miami, FL 33145

$1,100,000

5 bd · 2.0 ba · 2,511 sqft · MultiFamily public records · 21 Days on market

Built 1973

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Why this score? — see what drove the C- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +21.0/30.0
• ARV discount +7.5/15.0
• DSCR +6.7/10.0
• 1% rule +4.8/10.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +3.2/5.0
• Condition / age +2.5/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 3 units. confirmed

Listing remarks MLS

Incredible income property minutes away from Brickell, Coral Gables, C. Grove. Duplex has 3 units. Front is 2Bed/1Bath, Main (owner occupied) is 3Bed/2Bath. Back unit is an efficiency. Each unit has own laundry room. Backyard w/ Shed. Beautifully kept & m aintained.

Key facts

• Hvac ductwork
• Private entrances
• Full kitchens

Tags

• INCOME PRODUCING TRIPLEX
• PRIVATE ENTRANCES
• FULL KITCHENS
• SEPARATE LIVING SPACES
• RECENT CAPITAL IMPROVEMENTS
• HVAC DUCTWORK

Property features AI

Exterior

• Parking: Parking for 6 vehicles
• Utilities: Public sewer; Cable not available
• Home design: Single-story; Effective year built (updated/effective year)
• Construction: Brick and block construction; Shingle roof
• Exterior features: Lot smaller than a quarter acre

Interior

• Flooring: Ceramic tile
• Heating & cooling: Central heating; Central air conditioning
• Interior features: Ceramic tile flooring

What this means for you Summary

Snapshot

• This is a 2×2bd/1ba + 1×1bd/1ba units multifamily listed at $1.10M.

Deal economics

• At list price, monthly cash flow is $2k ($19k/yr) — positive. Per door: $515/mo.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $1.07M (2.4% below list).
• Recommended offer: $1.07M (2.4% below list) — sets the bar for 1% rule.
• Cap rate 8.0% vs local median 1.9% in Miami — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents rising (+2.7%/yr); 225 active listings in the ZIP; 8 comparable units currently listed for rent nearby; rentals at typical pace (median 18d on market — plan ~3-4 weeks tenant-placement turnaround); 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $10,736/mo this rent would consume 174% of the median local household income ($74k/yr) (locally 1517% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $8k of loan paydown is wiped out by about $33k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 21 days — a 2% lower offer ($1.08M) is reasonable based on typical stale-listing flexibility.
• 3 sale attempts since 11y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $440k; list at $1.10M implies a 150% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Climate carrying-cost: moderate flood risk; severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→30/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,073,600 (2.4% below list)

Questions for the listing agent

1. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
2. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
3. Built in 1973 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 0.98% ✗
• Cap rate: 7.98%
• Cash-on-cash: 6.02%
• DSCR: 1.27
• GRM: 8.5

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 2.73% rent growth · sell at horizon

5-year hold

• IRR: -7.3%
• Equity multiple: 0.73×
• Total profit: $-83,011
• Equity at exit: $164,014

10-year hold

• IRR: 1.9%
• Equity multiple: 1.13×
• Total profit: $41,537
• Equity at exit: $95,108

Cash invested: $308,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33145

• Rents YoY: 2.7%
• Active inventory: 225
• Price-to-rent: 25.0×

Monthly cashflow live

• Estimated rent: $10,736 medium
• Mortgage (P&I): −$5,769
• Tax from tax record: −$710 /mo · $8,517/yr
• Insurance: −$458
• HOA: −$0
• Vacancy / Maint / Mgmt: −$2,255
• Net cashflow: $1,545

Break-even live

Break-even rent $8,780

Max offer price $1,100,000

Occupancy floor 81%

3-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 2× units	2	1	$7,344
1× unit	1	1	$3,393
Total (3 units)			$10,736

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $275,000
• Closing costs: $33,000
• Reserves months: —
• Total cash needed: —

Rent comps 8 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1710 SW 27th Ave Unit 1272101P Miami, FL	1.0–5.0	1.0–4.0	1716	$19,839	$11.56	7d	3	0.48mi
1951 Secoffee St Miami, FL	4.0	4.0	3750	$18,000	$4.80	17d	1	1.16mi
1951 Secoffee St Miami, FL	4.0	4.0	3750	$18,000	$4.80	10d	1	1.16mi
79 Shore Dr W Miami, FL	4.0	5.0	3718	$22,000	$5.92	17d	1	1.31mi
79 Shore Dr W Miami, FL	4.0	4.5	3715	$21,997	$5.92	24d	1	1.31mi
79 Shore Dr W Unit SFH Miami, FL	4.0	4.5	3718	$22,000	$5.92	24d	1	1.31mi
79 Shore Dr W Miami, FL	4.0	4.5	3715	$21,997	$5.92	20d	1	1.31mi
290 Shore Dr E #290 Miami, FL	4.0	4.0	2314	$18,500	$7.99	10d	1	1.44mi

Listing history 15 events

1. 2026-06-08
   statusdays on market $1,100,000 Pending 21 DOM
2. 2026-06-07
   days on market $1,100,000 Active 20 DOM
3. 2026-06-04
   days on market $1,100,000 Active 17 DOM
4. 2026-06-03
   days on market $1,100,000 Active 16 DOM
5. 2026-06-02
   days on market $1,100,000 Active 15 DOM
6. 2026-06-01
   days on market $1,100,000 Active 14 DOM
7. 2026-05-31
   days on market $1,100,000 Active 13 DOM
8. 2026-05-17
   listed $1,100,000 Active
9. 2026-03-31
   historical
10. 2025-12-04
    listed $1,200,000 Active
11. 2016-01-27
    soldstatus $440,000
12. 2016-01-26
    soldstatus $440,000 Sold 272-char remark

    Show marketing remark (272 chars)

    Incredible income property minutes away from Brickell, Coral Gables, C. Grove. Duplex has 3 units. Front is 2Bed/1Bath, Main (owner occupied) is 3Bed/2Bath. Back unit is an efficiency. Each unit has own laundry room. Backyard w/ Shed. Beautifully kept & m aintained.

13. 2015-12-29
    status Pending 272-char remark

    Show marketing remark (272 chars)

    Incredible income property minutes away from Brickell, Coral Gables, C. Grove. Duplex has 3 units. Front is 2Bed/1Bath, Main (owner occupied) is 3Bed/2Bath. Back unit is an efficiency. Each unit has own laundry room. Backyard w/ Shed. Beautifully kept & m aintained.

14. 2015-11-03
    price $449,000 272-char remark

    Show marketing remark (272 chars)

    Incredible income property minutes away from Brickell, Coral Gables, C. Grove. Duplex has 3 units. Front is 2Bed/1Bath, Main (owner occupied) is 3Bed/2Bath. Back unit is an efficiency. Each unit has own laundry room. Backyard w/ Shed. Beautifully kept & m aintained.

15. 2015-06-16
    listed $459,900 Active 272-char remark

    Show marketing remark (272 chars)

    Incredible income property minutes away from Brickell, Coral Gables, C. Grove. Duplex has 3 units. Front is 2Bed/1Bath, Main (owner occupied) is 3Bed/2Bath. Back unit is an efficiency. Each unit has own laundry room. Backyard w/ Shed. Beautifully kept & m aintained.

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $8,517 · $710/mo
• Projected year-2 tax: $9,130 · $761/mo
• Expected delta: +$613/yr (+$51/mo · 7.2%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 5/10 Major FEMA zone X (unshaded) · 24% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥104°F today · 30 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 1 by 30 yrs out

Taxation est. · year 1

• Rental income: $128,832
• − Mortgage interest: −$61,617
• − Property taxes: −$8,517
• − Insurance: −$5,500
• − Repairs & maintenance: −$10,307
• − Management: −$10,307
• − Depreciation: −$32,000
• Taxable income: $585
• Est. tax owed @ 24.0%: −$140
• After-tax cash flow: $18,398/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C- Housing B- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 29,761
• Household income: $73,995
• Rent vs Own: 44.1% rent · 55.9% own
• Severe rent burden: 1517.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (79%)
• Race & ethnicity: Hispanic / Latino 79% Two or more races 51% White 16% Asian 1% Black 1%
• Hispanic origin (detail): Mexican 1% Puerto Rican 2% Cuban 41% Dominican 2% Salvadoran 2%
• Common ancestry: Estonian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 59% · Canada, Jamaica, Dominican Republic
• Languages at home: 13% English-only · Spanish 83% Other Indo-European 2% Russian/Polish/Slavic 1%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -657.80%
• Current HPI: 485.4573
• Rent YoY: ▲ 2.73%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

+139.2% since first listed

8 events — show timeline

• 2026-05-17 Listed $1,100,000 MARMLS
• 2026-03-31 Listing Removed — MARMLS
• 2025-12-04 Listed $1,200,000 MARMLS
• 2016-01-27 Sold (Public Records) $440,000 Public Records
• 2016-01-26 Sold (MLS) $440,000 MARMLS
• 2015-12-29 Pending — MARMLS
• 2015-11-03 Price Changed $449,000 MARMLS
• 2015-06-16 Listed $459,900 MARMLS

Property tax history

+6.5%/yr

Latest (2025): $8,517 · -37.8% YoY. Source: county tax records.